Word: marks
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Dates: during 2000-2009
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...loans start trading more regularly because of the government's PPIP program, the banks would have submit those loans to so-called mark-to-market rules. That means the banks would have to take a write-down not just on the mortgage loans they sell, and get cash for, but on all of the mortgage loans on their books. Banks hold about $3.5 trillion in mortgage loans. So having to mark all those loans down $0.21, not just the ones that are sold, would be disastrous. (Read "Geitherner's Bank Plan: Only a Partial Solution...
...change to mark-to-market rules will save banks a bundle," says Robert Willens, a corporate accounting expert. "Under the new rule, you can't mark your loans to market even if you wanted...
...very least, the PPIP plan probably means that the proposed accounting change, which could be enacted as soon as the next few weeks, to mark-to-market rules has to happen. But even with the rule change, banks are still probably going to need more money the government in order to make the PPIP plan a success...
Take note Mark Zuckerburg, google is actually making changes we LIKE...
...affair. Harvard was tied for second with Yale with a 7-2 record after day one but then went on to post the best record of Sunday’s championship round at 5-1 to finish 12-3 on the weekend, just back of the Eagles 13-2 mark.“We won most of our races off the starting line,” Watson said. “We had some really close races with BC and I think we have started a rivalry with them for the rest of this season and for the coming seasons...